Tag: Public sector banks

Mumbai : Public sector banks (PSBs) will soon create a dedicated mechanism for managing stressed accounts, Finance Minister Piyush Goyal said on Friday following a meeting with PSB chiefs on the issue of banks' non-performing assets (NPAs), or bad loans. The accumulated NPAs in the Indian banking system have crossed the staggering level of Rs 9 lakh crore. The proposed mechanism would seek a faster resolution of such cases. "A panel under Punjab National Bank (PNB) non-executive chairman Sunil Mehta will give its report in two weeks over setting up of...